Lisata cuts upfront merger cash to $4.00/share, adds $3.00 in milestone-based CVRs

Filed May 29, 2026 · Period ending May 29, 2026 · ~1 min read

Key Changes

• high

  Merger consideration restructured: shareholders now receive $4.00 cash upfront (down from $5.00) plus contingent value rights worth up to $3.00 if two drug development milestones are met—shifting more value to uncertain future payments.

  Item 1.01 verify on EDGAR →
• high

  First CVR payment of $1.25/share triggers when Phase 2a glioblastoma trial completes enrollment (or reaches 90% enrollment), expected by December 2026—relatively near-term and achievable milestone.

  Item 1.01 verify on EDGAR →
• high

  Second CVR payment of $1.75/share requires filing an NDA for certepetide with FDA or foreign regulator within seven years—longer-term, higher-risk milestone dependent on successful clinical development.

  Item 1.01 verify on EDGAR →